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Short Sale Incentives    

Many lenders are offering incentives to short sale your home…

For instance Bank of America is currently offering up to $20,000 on all conventional mortgages listed until November 30th.

Chase has the outreach program which I have personally seen someone walk away from the closing table with a check for $35,000.

On top of these program you can overlay the HAFA short sale for an additional $3,000.

Why would they do this you ask?  Typically, for a lender to foreclose on a property, it costs between $40,000 and $60,000, so even if they are giving as much as $35,000 to the seller, they are coming out ahead.  The incentive also keeps the homeowner in the property until it's sold, thereby reducing the lender's expenses for utilities, cleaning, eviction, etc...
To take advantage of these offers you need to hire a Realtor.
Choose your lender from the list below to view their current offerings.

Bank of America has recently unveiled a few different programs to help both homeowners and real estate agents streamline these complicated short sale transactions; remember, they were one of the first to use the automated short sale software, Equator.  Bank of America is currently sending out letters to homeowners with pre-approved short sale offers.

Enhanced Short Sale Relocation Assistance for Florida Homeowners

For the last few months, RE/MAX and Bank of America have been cooperating in an Alternative Right Party Contact program across the United States. ARPCis designed to allow agents a unique way to reach out to delinquent homeowners and inform them on foreclosure alternatives like Short Sales.

Now, in an effort to motivate homeowners in Florida to consider a Short Sale, Bank of America is offering enhanced relocation assistance for a limited time. Eligible Florida homeowners may now qualify to receive a cash incentive of $5,000 to $20,000 and have any deficiency waived.


Homeowners in the State of Florida

  • Short Sales initiated without-an-offer between September 26 and November 30, 2011
  • Be eligible for one of the proprietary Bank of America Short Sale programs or HAFA
  • Cash incentives based on a percentage of the unpaid loan balance ($5,000 to $20,000)
  • FHA, Ginnie Mae, USDA and VA loans are NOT eligible

Frequently Asked Questions:

Q: How can I find out if my client qualifies for this relocation assistance?
A: Call a Oasis Title Company's Short Sale Department at 561-362-7355

Q: Are there different procedures for initiating or completing these Short Sales?
A: No, as long as the homeowner meets the eligibility requirement shown above.

Q: Will the relocation assistance funds be reported on the HUD-1?
A: Yes, they will be documented on the HUD-1 and a 1099-MISC will be issued.

Q: Can the relocation assistance funds be used to pay off existing liens?
A: Yes, if the investor approves it.

Q: Is the relocation assistance in addition to other incentives from the Bank, HAFA or others?
A: No, cash incentives under this program would be in place of other incentives.

Q: Is the enhanced relocation assistance available for other programs?
A: Currently, these incentives are only available to Short Sales initiated without-on-offer.


Agents are encouraged to visit the Agent Resource Center at

And to the agent networking and resource site

ARPC details are If you have received one of these offers they are for real and can get you out of your home.

Make sure you immediately contact a Realtor and listing your home as one of the requirements is that you submit a listing agreement back to them with your signed offer.

Contact us for more information and to get started listing your home today.

If you have any question, please feel free to contact us.

Recently Chase has been sending out letters encouraging homeowners to short sale their home.

They are offering homeowners anywhere from $20,000 to $35,000 to do so.

**Be on the look out for these letters because if you don’t respond within a certain time frame they will expire.

You will need to quickly contact a realtor to have your house listed so that you can send in the listing agreement within the time frame allowed.


Wachovia's Fast Track Program in 2008 was the first lender incentive program, offering up to $5,000.00 back! 
Wells Fargo, after the merger with Wachovia, still offers between $3,000.00 - $5,000.00 as relocation assistance for sellers of short sales.  
Wells Fargo has one of the fastest Short Sale approval ratings.   
Be on the look out for these letters because if you don’t respond within a certain time frame they will expire.

You will need to quickly contact a realtor to have your house listed so that you can send in the listing agreement within the time frame allowed.


Saxon has been known to send out pre-approved short sale letters.

In the letters we have seen they offer you to sell your home and as long as they receive a certain net from the proceeds they will let you keep the rest.

If you haven’t received one and your are being serviced by Saxon, you should call them to see if you qualify for this program.



The U.S. Housing and Urban Development (HUD) is helping borrower (s) move from their home with a program called Pre-Foreclosure Sale (PFS Program). This program allows borrowers who have fallen short on their payments and are now in pre-foreclosure sell their homes short of what they owe.

Basically, how the program works is if you meet certain criteria set forth by HUD…HUD will perform a new appraisal of your home and accept roughly 88% of the current homes value satisfying he old mortgage note.

Key Factors are:

  • Borrowers/Sellers will receive cash incentive of up to $1,000
  • The Mortgagee (your lender) or HUD will not pursue the borrower for a deficiency judgment
  • Borrowers/Sellers must professionally & actively market property for up to 3 months which will delay any foreclosure proceedings.
  • Must have a marketable title, title search must be performed and all liens should be cleared/discharged prior to closing
  • Borrower can be current at time of submission but must be delinquent by at least 30 days prior to the closing
  • Property values are determined by an FHA certified appraiser, using a “as-is” Fair Market Value (FMV)
  • Mortgagor/Sellers must maintain property in “ready to show” condition
  • Mortgagee/ lender must respond within 5 working days from receipt of the executed contract

HUD allows up to 1% of the buyer’s mortgage amount for closing costs to be included in the “Seller’s Costs” on the HUD-1 for all transactions that involve a new FHA-insured mortgage.


  • The property must be owner-occupied, no “walk-a ways” or investment properties. Exceptions: when it is verifiable that the need to vacate was related to the cause of default (job loss, transfer, divorce, death), and the subject property was not purchased as rental investment, or used as a rental for more than 18months.
  • The Mortgagor must be 31 days or more delinquent at the time of the pre-foreclosure Sale closing.
  • The Mortgagor must provide documentation substantiating a reduction in income or an increase in living expense, and documentation that verifies the Mortgagors need to vacate the property (if applicable).

What is a short sale? | How does a short sale work? | How to buy a short sale? | How to sell a short sale? | How to avoid foreclosure?

Oasis Title Company, Inc. & Oasis Short Sales are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.
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